Q-7 Find the deference between simple etablerst and compoun
interest on 24000 at 10% for
12 years.​

$5520

Step-by-step explanation:

Given data

Principal=  $24000

Rate=10%

time= 2 years

Firstly, the compound interest is given as

A=P(1+r)^t

A=24000(1+0.1)^2

A=24000(1.1)^2

A=24000*1.21

A=$29040

The simple interest is given as

A=P(1+rt)

A=24000(1+0.1*2)

A=24000(1.2)^2

A=24000*1.44

A=$34560

Hence the difference is

=34560-29040

=$5520

ou would have 12 of each

if a = 1,   and b = 2, then the answer is 47.99999999. if you round that to the nearest whole number, the answer is 48.